Conservative groups slam President Biden and his administration for trying to “gaslight” Americans into believing that the country is not in recession.
The country entered a technical recession as US economy fell 0.9%, meaning the country recorded negative gross domestic product for a second consecutive quarter.
Ahead of the country’s July 28 advance estimate of GDP, the White House Council of Economic Advisers said that even if the figure is negative, it is still “unlikely” to be an indicator that the country is in recession.
“Based on these data, the decline in GDP in the first quarter of this year – even if followed by another decline in GDP in the second quarter – is unlikely to indicate a recession,” reads an article on the White House website.
After the GDP figure was released, Biden was quick to say the United States “is not in a recession,” adding that it’s “not an uprising that the economy is slowing down.”
Will Hild, executive director of Consumers’ Research, told Fox News Digital that the country is in the midst of a recession despite what Biden and his administration are suggesting.
“The GDP numbers don’t lie — under the Biden administration, we’re rebuilding the brokerage,” Hild said. “Regardless of how the White House tries to spin it, the Biden recession is here to stay as everyday Americans face higher prices from groceries to gas pumps.
He said in an interview that the White House’s current calculation of whether the country is in a recession hinges on the fact that there is not yet high unemployment.
“My understanding is [White House] leans heavily on the fact that we haven’t seen a lot of unemployed yet, but layoffs are increasing, and that may just be a lagging indicator,” Hild said.
“What we’ll probably see over the next three months is unemployment going up, I think we’re already seeing increases there,” Hild added.
Other members of the Biden administration have also said the country is not in a recession.
Treasury Secretary Janet Yellen told a news conference July 28 that most economists define a true recession as a “widespread weakening of the economy” that also involves a high number of job losses. and business closures, among others.
“That’s not what we’re seeing right now,” Yellen said.
Heritage Action for America executive director Jessica Anderson said the Biden administration is trying to redefine the term “recession.”
“No matter how the Biden administration tries to enlighten the American people or redefine the term ‘recession,’ we are all feeling the inflationary effects of its economic policies in our pocketbooks,” Anderson said. As our economy’s growth slows, inflation soars and interest rates rise, the American people are crying out to the Biden administration and Democrats in Congress to stop their recklessness spend and get our finances in order.”
Megan Henney and Brooke Singman of FOX Business contributed to this report.